Gold

Capella Resources Ltd. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) is pleased to announce that it has discovered two new mineralization zones at its Lajitas gold-copper project in northern Chile as a result of the recently completed airborne hyperspectral imaging survey by SpecTIR LLC of Reno, Nevada.

South African mining output rebounded strongly in April, rising by 12.4% year-on-year, after contracting 1.4% in the previous month, a report by Statistics South Africa showed on Thursday. Year-to-date production increased by 5.2%, on the back of surging output of nickel, manganese, platinum group metals and copper but gold production continued to lag, only managing a 1.5% increase. Analysts warned that the outlook for the rest of year was clouded by scheduled wage negotiations across the industry that could lead to strikes and a strong currency which hampers competitiveness.

On Wednesday the Vancouver Sun released its list of the highest paid executives in B.C. with several miners making it to the […]

One of Canada's most successful, historic gold mines is poised for a renaissance following a new resource estimate that outlines 1.26 million ounces of gold. The updated NI-43101, filed Wednesday by Ottawa-based PC Gold, says the gold is contained in 10.15 million tonnes of ore averaging 3.9 g/t Au. The deposit has a higher-grade underground component of 1.1 million ounces averaging 5.4 g/t Au, with almost half — 600,000 ounces — contained in high-grade veins grading 9.3 g/t Au. Image by PC Gold Inc.

Zimbabwe's Newsday reports the National Mine Workers’ Union has complained about the working conditions at Chinese-owned chrome and gold mines dotted around the Midlands region, saying they were inhuman and unsafe. At a meeting to commemorate the death of 427 Hwange miners at the Kamandama underground mine in 1972, national organising secretary Cotten Ndlovu said miners at Chinese-run companies were being forced to work long hours without incentives and protective clothing and accused Chinese mining firms of flouting the country’s labour laws.

Taseko Mines is inviting public discussion on its revised plan for developing a controversial gold-copper mine in British Columbia. Information on the project and a commentary section are found at http://www.newprosperityproject.ca. Taseko announced in February it is taking another run at Prosperity after the federal government rejected it last fall. Under the revisions, the company plans to spend another $300 million, pushing the project's capex to $1.1 billion. Image by Taseko Mines Ltd.

African Barrick Gold said it was not aware of plans by the Tanzanian government to impose a "super tax" on mining profits, responding to reports that the country could introduce a windfall levy. Worries over the tax helped drag the miner's shares down 7.8 percent by 1125 GMT, underperforming a sector battered by fresh concerns over the economic recovery.

The top 40 global mining companies are poised to break through the US$1 trillion asset mark this year, due to record levels of cash, property and equipment on balance sheets, says a new PwC report. In their report Mine 2011: The game has changed, PwC called the financial results of the top 40 "spectacular" as total revenues increased 32% to US$435 billion, breaking the $400 billion mark for the first time.

Edward Lee, President of Molycor Gold, reported that drilling has commenced on its 100% owned Beaverdell Silver property, located 4km southeast of Beaverdell, British Columbia. The exploration program will be focused on the North Kokomo – Tiger and Duncan Bounty vein areas where high grade rock chip samples were taken during an assessment program carried out during fall 2010 up to 61.98 oz/ton silver.